terra luna Classic Community Approves Significant Proposal for Future Upgrades
Recommendation for activating Terra Luna Classic ICA Controller parameters It received unanimous support from the Terra Luna Classic community, including validators. The proposal passed the passing threshold before the deadline and received 99.97% votes in favour.
Meanwhile, Terra Classic ecosystem tokens LUNC and USTC took a hit amid the recent correction in the crypto market, with crypto exchange Crypto.com confirming the delisting of LUNC from parofix.
Terra Luna Classic ICA Controller Parameter Proposal Passed
“Proposal 12005”Adjust ICA controller parameters consistently” successfully crossed the transition threshold and received great support from the community. The offer deadline is January 28.
The proposal received a 99.97% “Yes” vote, indicating unanimous support from the community. It also received No, veto No and Abstain votes, surprising many key members of the community. All 47 of the participating validators voted in favor of the proposal. These include Orion, Interstellar Lounge, Stakely and Luna Station 88. Allnodes, a validator with 16% voting power, has not yet voted on the proposal.
parofix previously reported that the proposal aims to set the parameters of Terra Classic’s ICA Controller module to “enable”. The module’s internal storage is currently inconsistent due to a network issue, preventing developers from exporting Terra Classic’s state to a genesis.json file. This is very important for developers working on testnets for upgrades.
Read More: Terra Classic (LUNC) Price Increased by 5% After Terra Classic Upgrade
LUNC and USTC Price Performance
Terra Luna Classic (LUNC) and USTC prices witnessed a significant increase after the L1TF security upgrade package was put up for voting. However, before maturity, prices dropped again.
LUNC price is down 3% in the last 24 hours and the price is currently trading at $0.0000924. The 24-hour high and low are $0.0000915 and $0.0000964 respectively. Meanwhile, trading volume has dropped by nearly 40% in the last 24 hours, indicating low interest among traders.
Additionally, the USTC price also increased by over 3%. The price is currently trading at $0.02374; The 24-hour high and low are $0.0222 and $0.02403 respectively.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
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